26-05-2014, 12:32 PM
An analytical study on IEA report 2012
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Higher oil prices led to development of more oil fields around the world and reduced global consumption. The result, beginning in the mid-1980s, was a worldwide oil glut, which introduced an element of planning uncertainty for the first time in a decade.
Saudi oil production, which had increased to almost 10 million barrels (1,600,000 m3) per day during 1980-81, dropped to about 2 million barrels per day (320,000 m3/d) in 1985
Conclusion
From the above mentioned analytical facts, the international energy interdependence is very evident.
Events like war, industrial revolution, political changes etc in major oil producing countries effects the corners of the world.
The only manthar for complete independence from the shackles of energy dependency for a country like ours, is renewable energy!!